Each finalist team has secured an investment of 5,000 euros and is competing for a new round of up to 20,000 euros
Techcelerator, Romania’s most active accelerator dedicated to technology start-ups, is organizing Demo Day, an event for the participating teams in the first phase of the Venture Program, the pre-accelerator program launched by EIT Digital. The finalist teams benefited from an intensive eight-week program, from 10 May to 30 July, designed to support them in building their MVP, along with financial support in the form of a grant amounting to 5,000 euros. The event takes place on Thursday 25 August, in an online format.
The Demo Day event marks the end of the first phase of the Venture Program.
“The 8-week intensive program has been a beneficial product development process for all teams, which has also brought them closer together. Throughout the entirety of the program, the teams had constant access to advice from the mentors involved, who contributed with relevant information and experience. The whole process helped the finalist teams refine their ideas and bring them to the prototype stage, ready to be tested and, ultimately, launched on the market. We are delighted that together with Techcelerator we have been able to contribute to the development of these startups created by young entrepreneurs, both through our knowledge and through funding” states Tudor Pasc, Incubation Director, ROTSA.
The participating team’s proposed products with market potential – from digital applications to functional platforms through artificial intelligence or augmented reality are mainly dedicated to identifying solutions in various areas and improving the life quality of users.
Foni.AI is an AI-enabled speech recognition platform that enables medical professionals to document and recommend appropriate medical treatment.
InsuLoc is artificial intelligence and augmented reality-based health tech app that helps diabetes patients to choose the right location (critical in achieving the best treatment outcomes for insulin-dependent diabetes patients) to receive up to four insulin injections daily.
Rastel, a smart bike parking solution that helps reduce bike theft and vandalism.
Smoek, an app based on alternative and traditional behavioral psychology to help users quit tobacco by creating a unique digital experience.
SnoreZ, a digital app for phones and other devices (smartwatches) that uses subliminal vibration during sleep to reduce time spent in REM sleep (proven effective in reducing snoring), which provides a smooth awakening to increase energy levels and productivity.
The topics of the mentoring sessions were varied and multidisciplinary, all necessary for business development. These included lean startup methodology, customer discovery, and development, setting up the objective, validating the problem, market research, product development, lead generation, sales, and digital marketing, revenue models and streams, pricing, pitching, and more.
Phases 2 and 3 will take place in the upcoming period in which the finalist teams will register their companies and participate in two additional selections. In the selections, they can benefit from two more rounds of funding of 10,000 euros each in equity funding.
Teams remain under the mentorship of EIT Digital, as well as local partners ROTSA and Techcelerator, to grow their proposed products alongside successful companies. More about the Demo Day event can be found on Facebook (link: https://fb.me/e/1XN4rszM8)